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Real Life Model

Let’s just end this tirade about squandering money on “games of chance“.

We have our lottery ticket buyer (I’ll leave the video poker and on line poker to someone else), who buys $10 worth of tickets a week most every week (we’ll say 50 weeks).

  • $500 a year spent on lottery tickets

Wow, that is a lot of money just looking at it. I thought I blew money on coffee.

Let’s say we take that $500 (or $10 a week) and put it in a money market fund that might pay 3% (yes that sucks, I’m sure you smart folks can find a much better place to put it (let’s keep it clean too, no rude suggestions)):

  • $10/week for 10 years growing at 3% per annum adds up to? Anyone? Bueller?
    • $5800.00 or so, depending on how you calculate growth

Get it? Yes, you might have won $1,000,000 during that time, and everyone has heard of someone who has, but this way you KNOW how much money you are going to have!

Pay yourself! Don’t buy Lottery Tickets

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